ADB VP commends Govt.’s commitment to revival via economic reforms

Tuesday, 6 December 2022 02:25 - - {{hitsCtrl.values.hits}}

Asian Development Bank Vice President Shixen Chen yesterday said international monetary agencies are highly impressed with the strength of the Sri Lankan leadership and its commitment to achieving a speedy revival through economic reforms. The ADB Vice President made these remarks when he called on Prime Minister Dinesh Gunawardena yesterday at the Prime Minister’s Office in Colombo.

He said the current visit is aimed at finalising proposed ADB projects for next year and assured ADB’s support for the country’s development and its efforts to overcome economic and fiscal challenges.

Prime Minister also briefed him about the steps taken by the Government to revive the economy and to enact reforms in fiscal sectors as well as to restructure the energy, electricity and petroleum sectors.

ADB Vice President stressed the need for controlling inflation and protecting vulnerable, underprivileged sections of society.

The Prime Minister explained the programs aimed at protecting the vulnerable groups of society and rural agricultural development plans to increase production and increase the export of surplus.

Chen said the ADB could provide technical assistance in addition to project support.

The Prime Minister thanked the ADB for emergency assistance loans and grants provided during the COVID pandemic as well as amidst the ongoing economic difficulties.

Premier Gunawardena said the ADB-supported projects provide crucial support to the Government in extending assistance to vulnerable groups and restoring the livelihood of the poor and vulnerable, including farmers.

ADB has been addressing immediate needs, such as essential medical supplies, materials for water treatment, and working capital for small and medium-sized enterprises by reallocating surplus loan proceeds from ongoing loans.

Secretary to the Prime Minister Anura Dissanayake and ADB Senior Advisor Aiming Shou, Economic Advisor Rana Hasan, Country Director Chen Chen, and senior officials Aminur Rahman and Santosh Pokharel were also present at the discussion.